HR-2226 : Still Just a Bill

Portfolio Lending and Mortgage Access Act

This bill amends the Truth in Lending Act to modify provisions related to residential mortgage loans. In general, a creditor that is a depository institution shall not be subject to suit for violating specified ability-to-pay requirements with respect to a residential mortgage loan if: (1) the creditor has consistently held the loan on its balance sheet, and (2) prepayment penalties associated with the loan comply with specified limitations. Similarly, a mortgage originator shall not be subject to suit for such a violation if: (1) the creditor is a depository institution; and (2) the creditor informs the mortgage originator, which informs the consumer, that the creditor intends to hold the loan on its balance sheet for the life of the loan.

Action Timeline

Action DateTypeTextSource
2018-03-07IntroReferralReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
2018-03-06FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2018-03-06FloorOn motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H1389-1390)House floor actions
2018-03-06FloorDEBATE - The House proceeded with forty minutes of debate on H.R. 2226.House floor actions
2018-03-06FloorConsidered under suspension of the rules. (consideration: CR H1389-1393)House floor actions
2018-03-06FloorMr. Barr moved to suspend the rules and pass the bill, as amended.House floor actions
2018-02-23CalendarsPlaced on the Union Calendar, Calendar No. 438.House floor actions
2018-02-23CommitteeReported (Amended) by the Committee on Financial Services. H. Rept. 115-578.House floor actions
2018-01-18CommitteeOrdered to be Reported (Amended) by the Yeas and Nays: 55 - 0.House committee actions
2018-01-18CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2018-01-17CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2017-04-28IntroReferralReferred to the House Committee on Financial Services.House floor actions
2017-04-28IntroReferralIntroduced in HouseLibrary of Congress